Where in Europe can you afford a home faster? « Euro Weekly News

Buying a home is a huge milestone, but depending on where you live in Europe, it could take anywhere from a few years to an entire lifetime.

A recent study has revealed just how many months of salary it takes to buy a 100-square-metre home, and the results show some surprising contrasts.

Denmark: Europe’s most affordable country for homeownership

If you’re dreaming of buying a home, Denmark might be your best bet. According to the study, it takes an average of 114 months of salary—that’s just under 10 years—to afford a home there.

It’s a surprising result for a country known for high living costs, but Denmark’s strong wages make a big difference. This combination puts homeownership within reach for many residents.

Other affordable countries include:

Ireland: 123 months of salary
Sweden: 129 months of salary

For those living in these nations, the dream of owning a home feels much more achievable compared to other parts of Europe.

Slovakia and the Czech Republic: Europe’s toughest housing markets

On the flip side, Slovakia and the Czech Republic present much tougher challenges for homebuyers. In Slovakia, a 100-square-metre home costs 297 months of salary—that’s 25 years of work. Even saving half your income every month, it would take 50 years to buy a property outright.

The situation isn’t much better in the Czech Republic, reflecting broader financial challenges in Eastern Europe, where wages simply don’t keep up with rising property prices.

Global housing affordability: How does the world compare?

Globally, the most affordable place to buy a home is South Africa, where it takes just 71 months of salary—about six years.

On the other end of the spectrum are Nepal and Turkey, where buying a home requires 684 and 631 months of salary, respectively. That’s over 50 years of income, making homeownership nearly impossible for most residents.

The United States, meanwhile, offers a mixed picture. On average, it takes 76 months of salary to buy a home, but regional variations mean that affordability can differ greatly depending on the state.

What these housing trends mean for buyers

This study highlights the huge disparities in housing markets across Europe and beyond. For residents in countries like Denmark or Ireland, homeownership might be closer than you think. But in places like Slovakia, it remains a distant dream for many.

If you’re considering buying a home, understanding local property markets is key. Planning carefully and knowing where your salary will stretch furthest can make all the difference.

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